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English 116
Search Results 0 to 49 of about 116 (some duplicates have been removed)
ABC
Jan 2, 2013 11:00am PST
. >> the stock market surged as wall street reacted. late last night congress finally sent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> but at one point it looked like the deal could fall apart. >> there is some on spending cuts and we are adding to the debt. >> what we are doing is raising taxes to give the president more money to spend. >> some republicans were pushing to john boehner to add spending cuts but there weren't enough votes to get it passed. so they extended tax cuts for all workers for all those under $400,000 and extended unemployment benefits for some two million people. but the payroll tax expired so increase on salaries by 2% every worker up to $110,000 a year. then the stuff it didn't do. congress set up new ones, in just two months they will need to deal with the automatic spending cuts and nasty fight over the debt ceiling. last night president obama declared he is not willing to debate congress on the borrowing limit. >> we can't not pay bills that we have already i
CBS
Jan 2, 2013 6:30pm EST
in the broadcast. now to the bill congress did pass late last night to pull the country back from the fiscal cliff. tax rates are going up for high-income earners. jobless benefits will continue for the long-term unemployed. and the payroll tax is going up. but spending cuts have been put off. nancy cordes is on capitol hill. nancy? >> reporter: anthony, after months of procrastination and accusations and closed-door meetings, congress finally passed a fiscal cliff bill last night. it left everyone relieved but no one truly happy. >> the motion is adopted. >> reporter: even republicans who voted for the plan are angry it has no serious spending cuts while democrats think the white house made too many concessions on taxes. kent conrad is a senator from north dakota. >> i hate this agreement. i hate it with every fiber of my being. because this is not the grand bargain that i hoped for or worked for or believed is so necessary to the future of the country. mr. president, this is not by any standard a deficit reduction plan. >> reporter: mostly it's a tax plan. the bill permanently extends the bush-e
FOX
Jan 2, 2013 12:00pm PST
in the coming weeks. the deal passed last night would raise taxes on households making more than $450,000 or more a year and individuals making $400,000 or more. but congress pushed off deep government spending cuts for two months and the country is hitting the debt ceiling. >> three set up three more fiscal cliffs. we are gonna look back on this night and regret it. >> president obama rejoined his family in hawaii this morning. the white house had no immediate details when the president will receive and sign the bill. >>> well, stocks are sharply higher due to the fiscal cliff deal but some market watchers are cautioning that the euphoria could be short-lived because of the many challenging issues that remain unresolved. the dow is slightly off, but remaining up more than 200 points. it's up now 235 at 13,339. well, despite the fiscal cliff deal, everyone's paycheck will still be at least a little bit smaller this year. ktvu's janine de la vega is in los gatos to explain about the end of the payroll tax holiday. >> reporter: good afternoon. this tax cut has expired and it will affect
ABC
Jan 2, 2013 5:00pm EST
this morning. late last night congress finally spent president obama legislation. >> this law is just one step in the broader effort to strengthen our economy oar at one point it looked like the deal could fall apart. >> there's no spending cuts. we're adding $4 billion a day to the debt what we're really doing is raising taxes to gift president more money top spend. >> reporter: some republicans were pushing house speaker john boehner to add new spending cuts, but ultimately, there weren't enough votes to get that passed. so the house approved the senate measure. it prevent as tax hike on estates less than $5 million and extends unemployment benefits for some 2 million people but the payroll tax could expire, which means an increase on salaries by 2% for workers earning up to $110,000 a year. then stuff the bill didn't do. to avoid this fiscal cliff congress set up new ones. two ones they will have to deal with the automatic spending cuts. there lab nasty fight over the debt ceiling. last night president obama said he's not willing to debate congress on the borrowing limit. >> we can not not
ABC
Jan 2, 2013 4:30am EST
in this fiscal cliff so down. the house gave final approval for a bill late tuesday night. >> president obama thanked congress and asked that future negotiations not involve much trauma. --drama. >> they finally got it done. congress and the along from all over the fiscal cliff, with house republicans reluctantly passing the senate bill. >> i will sign a law that raises taxes on the wealthiest 2% of americans while preventing a middle-class tax hike that could have sent the economy back into recession. >> it appears the bill was headed for defeat. house republicans did not want to raise taxes without significant cuts in government spending. >> there are no spending cuts. we are adding $4 billion a day to the debt and we fell ilk -- feel like the senate bill failed miserably. >> they decided not to drag out the fight in the longer and risks taking the blame for massive tax hikes for nearly a met -- for nearly every american worker. >> what is the alternative? >> the bill shields those earning less than $400,000 a year from tax increases and extend unemployment benefits. it does not raise the
FOX News
Jan 2, 2013 12:00pm PST
in disbelief and ashamed. >> republicans in congress brought the house to a new low last night. >>gregg: it is really bad. new york republican congressman peter king, whom you just heard, says house of representatives speaker boehner and house majority leader are not on speaking terms but both aides down play the divide. the two are scheduled to meet with members of the new york and new jersey delegation on sandy aid. congressman cantor says he will be there. moments ago, shannon, new jersey republican governor christie talked about it. he is not happy, either. >>reporter: he tried to call the speaker four times and boehner would not take the call as it was apparent the bill would not get to the floor for a vote. he says the two talks today but they still do not have a "credible explanation" for what happened. here is what the governor had to say. >> this atmosphere now, everything is a possibility, potential piece of bait for the political gain. it is why the american people hate congress. >>reporter: ouch. lawmaker whose objected to the quick vote say the senate measure was full of po
CBS
Jan 2, 2013 12:00pm EST
at the procrastination of congress passing a late night bill to avoid falling off the fiscal cliff. but there is some satisfaction. >> a relief and that the stocks are showing -- [indiscernible] >> more than 98% of americans and 97% of small businesses will not see their income taxes go up. >> reporter: but oliver says he's part of the small group who will be paying higher taxes on his small business. >> it's all right. we've got to move forward somehow. >> reporter: all this does is set up more showdowns in the future so expect more late night faceoffs on capitol hill in the coming months. while the bill taxes the wealthiest families earning more than $450,000, the intensely divided house must now tack him what's not addressed in the bill, including raising the debt ceiling and sequestration reasons why democratic congressman jim moran voted against the measure. >> the problem is we set up three more fiscal cliffs, and all that's left is spending cuts. the only question we have to ask ourselves what programs do we cut them and how deep do we cut them. we'll look back at this night and regret it. >>i
ABC
Jan 2, 2013 2:35am EST
and they didn't even get it done on time. but last night, congress sent president obama a deal in on the fiscal cliff. after months of drama and some tense last-minute negotiations, congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> this law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody. >> reporter: lawmakers completely blew their deadline. they didn't get the grand bargain that both parties claimed was their ultimate goal. both democrats and republicans gave themselves credit for getting something done. >> this is a very, very strong first step. >> this is an important one. this is a critical one for the future of the country. >> reporter: there was considerable hand ringing among republicans about a lack of spending cuts. some wanted to add them in, but there weren't enough votes to get it passed. this fiscal cliff deal which passed the senate with overwhelming bipartisan support would extend tax cuts for all workers earning less than $400,000 a year, prev
CSPAN
Jan 2, 2013 6:00am EST
. there will be time for partisan confrontation with in the days of the 113th congress. but this night, as we end the 112th congress, as we have strived mightily to come to an agreement with great difficulty and realizing that all of us have very strong feelings, i sincerely regret that this is not a big, bold, balanced plan. >> i yield 2 minutes. >> recognized an additional 2 minutes. >> i regret is not a big, bold, and balanced plan. we had an opportunity to reach such an agreement in a bipartisan fashion. and we will not reach a big, bold, and balanced plan without bipartisanship. the decisions we will have to make will be too difficult not to be done in a bipartisan fashion. but this night, we take a step, a positive step. and the people watching us, mr. speaker, on television tonight, and reading about their congress tomorrow, and seeing that we were able to act, not perfectly, but in a bipartisan fashion, to try to take a step toward fiscal responsibility, fiscal stability, and yes, caring for those who most need our help in this country. so i urge my colleagues, as the leader of my party i
CW
Jan 2, 2013 12:00pm CST
to the budget deal by congress late last night. we are seeing gains across the board. the dow up more 200 points. the nasdaq up almost 71 right now. some bad news for the orange industry. more than half of the citrus groves and florida could be infected with a bacterial disease. the journal says oranges from infected trees are still safe to eat however the bacterial disease slowly kills the tree is. an agriculture department has already cut i ts cast for or in production. forecast for orange production. the biggest shareholder is an investment fund started by the co-founder of aol. the super bowl still one month away. advertisements spots for the big game are almost sold out. they are being sold for record amounts this year. for the first time there will be three commercials that are longer than a minute. so far at least one advertisement has been sent back to the company because it was a little bit too racy. a look back on the year that we just finished. i'm your tutorial to make a bumper stickers for everybody. we talk to a lot of experts throughout the year. you do learn a lot. it sta
MSNBC
Jan 2, 2013 9:00am PST
if congress didn't renew the payroll tax cut. yesterday, in the dark of night and without a sound, that tax cut expired, enacting a 2% tax hike on all earnings subject to the payroll tax. the non-partisan tax policy center estimates 160 million americans will take this hit, with the average family paying an extra $1,000 a year. so in the lead up to last night's vote, neither side was pushing #40dollars. so joining us now from washington to make sense of all this is msnbc policy analyst ezra klein of "the washington post." how are you doing, ezra? happy new year. >> good afternoon, thank you for joining me. >> i've been reading my blog, as, of course, everyone should do every day. one of the things that's interesting is everyone is asking is this a good deal, but i think just from reading your blog, it's different for different people. i want you to break it down for me a little bit. let's start with deficits. if you care about deficits, was this a good deal? >> no. this was terrible if you care about the deficit. it was awful. so one thing the budget wonks are happy about is two ways to mea
FOX
Jan 2, 2013 5:00am PST
creek i'm tara moriarty. >>> time now 5:01. is a fiscal cliff deal is now a done deal. late last night the congress and white house hammered out a deal. the house of representatives passed a senate bill that protects 99% of americans from an income tax hike. >> a central premise of my campaign was to change the tax code. that was too skewed toward the wealthy at the expense of working middle class americans. tonight we done have that >> president obama is right now as we speaking flying back to hawaii. he's resuming the family vacation he cut short in order to deal with that fiscal cliff. here are some of the details of the fiscal cliff deal that was passed last night. a perm extension of previous tax cut for all taxpayers expect for individuals that make $400,000 a year or couples that make more than $450,000. the bill continues unemployment benefits for long-term jobless. and postpones a decision on controversial spending cuts for two months. even though congress acted to avert income tax hikes on most americans, your paycheck will still shrink in 2013. ktvu janine de la vega is in s
CNN
Jan 2, 2013 8:00am PST
from the united states congress. we played by the rules as i said last night, governor christie, governor cuomo, we met with eric cantor, who by the way, kept his word throughout this, and the bill was drawn. we were promised that it would come up yet. we provided every penny of documentation, and the speaker of the house of representatives walked off the floor, didn't even give us a courtesy of a notice, told as ann -- -- so there's some dysfunction in the leadership, the speaker for some reason is taking it out on new york, long island and new jersey, speaker boehner is the one. he walked off the floor, refused to tell us why, refused to give under the circumstances any indication of warning whatsoever, and eric cantor met with us throughout the week, he devised the strategy how to bring it to the floor to make it acceptable to let the republicans who wanted to vote against parts of the bill, they could do that, but the bill was going to pass. the bottom line is here. the republican speaker walked off the floor without allows the vote. i'm just saying these people have no prob
CNBC
Jan 2, 2013 4:00pm EST
. >> yeah. he says the bill passed by congress last night is mainly a ticket to another fight which we'll talk about, but how does all of this affect his investment decisions for 2013? wilbur joins us now. good to see you. welcome back, sir. >> good to be back, thank you. >> are you encouraged or dismayed by the bill passed last night? >> well, i'm encouraged in one sense in that at least the vast majority of american taxpayers will know what their rates will be, and there's not that much of an increase. for most people the increase will be basically the two percentage points on social security and a little witt higher limit, so from the average person's point of view, that's okay. the disappointing part is that it didn't really deal with spending. there's a ratio of $41 of tax increase to $1 of spending decrease. >> right. >> that's not kind of balance we need to fix the budget. >> wilbur, though -- >> we have to wait and hope. >> the fiscal cliff wasn't about the deficit. it wasn't about the debt. it was actually about stabilizing gdp. i mean, that's the cliff, that's about making su
NBC
Jan 2, 2013 6:30pm EST
in tonight for brian. after weeks of negotiations and last-minute hold-ups over the fiscal cliff, congress late last night finally passed an agreement on taxes and spending. in a moment, we'll tell you what that legislation means for every american. but it's what the house did not do last night that caused an uproar today. lawmakers left before considering a bill to help victims of superstorm sandy, and that had republicans from hard-hit states taking aim at leaders of their own party. nbc's kelly o'donnell is at her post on capitol hill once again tonight. kelly, good evening. >> reporter: good evening, kate. so the house had not taken any kind of vote on a new year's day in nearly 60 years. and when they did so, they got that tax deal done, but only minutes later, a new controversy popped up, over government spending. and it spread through here furiously, and with real impact. new york and new jersey got angry and got action over emergency funding that was being delayed. it was a midnight surprise. >> the ayes have it, accordingly, the house stands ayoured. >> reporter: boos and jeres er
FOX
Jan 2, 2013 6:00am EST
around the world like what happened in congress last night. will the same happen on wall street? we're going to go to live -- going to go live to fox business network in new york. >>> and you can buy a stamp celebrating the emancipation proclamation. the limited-edition stamp is one of civil rights stamps which will be released in 2013. >>> it's now 6:20. we'll be back.  amazing. right? yeah. next one's on you. yeah, okay. introducing dunkin's new turkey sausage breakfast sandwich. the surprisingly great taste of turkey sausage on a pepper-fried egg with under 400 calories. try it, you'll like it. america runs on dunkin'. hurry in for dunkin's new turkey sausage breakfast sandwich today! >>> welcome back to fox 5 morning news. >>> it's back to work today on wall street. so the question is how will the stock market respond to the news of the fiscal cliff deal? lauren simonetti with fox business work is live. good morning tou, lauren. i haven't seen you since last year. >>reporter: oh, yes, it's been a while. good morning. happy new year to you. >> happy new year
MSNBC
Jan 2, 2013 1:00pm PST
was abruptly pulled back by speaker boehner last night delaying the bill until the 113th congress which convenes tomorrow. gop leadership apparently determined the house shouldn't even try for $60.4 billion in new spending on a night it added $4 trillion to the deficit. and congressman king is not the only one outraged that politics took precedence over people. >> republicans in congress brought this house to a new low last night. >> we're all hit hard enough with the recession. on top of that now we have to deal with the anxiety and the failure of congress to act. >> talk to the people. look into their eyes. understand their needs. come walk with me, mr. speaker. >> this is time to stop debating and take the gloves off. jersey style. >> and speaking of jersey style, governor chris christie came out swinging this afternoon. >> shame on you. shame on congress. on a political chess board of internal palace intrigue politics, our people were played last night as a pawn. and that's why people hate washington, d.c. that's why they hate this politics. last night it was my party responsible. >
FOX News
Jan 1, 2013 7:00pm PST
confrontation in the days in the 113th congress. but this night as we end the 112th congress, as we have strived mightily to come to an agreement with great difficulty and realizing that all of us have very strong feelings i severely regret that this is not a big, bold, balanced plan. >> i yield two minutes to the gentleman. >> the gentleman recognized for an additional two minutes. >> i recognize this is not a big, bold and balanced plan. we had an opportunity to reach such an agreement. n. a bipartisan fashion. and we will not reach a big bold and balanced plan without bipartisanship because the decisions we will have to make will be too difficult. not to be done in a bipartisan fashion. but this night we take a step. a positive step. and the people watching us, mr. speaker, on television tonight and reading about their congress tomorrow and seeing that we were able to act. not perfectly. but in a bipartisan fashion to try to take a step towards fiscal responsibility, fiscal stability, and, yes, caring for those who most need our help in this country. and so i urge my colleagues as the leader
CBS
Jan 2, 2013 12:00pm PST
, and congress will soon be at it again. president obama landed in hawaii this morning to resume his vacation. he left washington last night after lawmakers approved a bill that prevents a middle class tax hike and delays automatic spending cuts. congress and the white house struggled to get the deal done and neither republicans nor democrats seem pleased with the outcome. >> someone stop hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> reporter: many voters are upset it took lawmakers so long to reach a compromise. >> i think we needed a deal. i'm not necessarily altogether happy. >> reporter: the measure raises taxes on families making more than $450,000 a year and extends long-term jobless benefits for a year. but the package does not include spending cuts and many republicans voted against it. >> i'd like to be speaking for this bill, but i can't. >> reporter: congress steered away from the "fiscal cliff" at the last minute but another showdown is just around the corner. in two months, the treasury will need to increase how much the country
FOX
Jan 2, 2013 7:00am PST
: the fiscal cliff deadline was just one of several congress has to deal with. last night, the house overwhelmingly approved the senate legislation passed. the main points of the deal, the income tax rate is going up only on households making $450,000 or more a year and individuals making $400,000. and federal unemployment benefits continued this year for 2 million americans. but at least two other big debates are coming and soon. congress pushed off deep government spending cuts for two months and the country is hitting the date ceiling. >> if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic. far worse than the impact of a fiscal cliff. >> reporter: and while things look good upon wall street today, investors say don't get used to it if congress remains so divided. live in washington, kyla campbell, ktvu channel 2 news. >> we have much more on last night's fiscal cliff vote on our channel 2 website. go to ktvu.com, click on the tab right there on the front page. >>> happ
PBS
Jan 2, 2013 2:30pm PST
night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were joined by enough republicans for the agreement to become law. as for the president to deliver on a campaign pledge, that the rich would pay more to help reduce the deficit. >> i will sign a law that raises taxes on the wealthiest 2% of americans wall preventing a middle-class tax hike for -- while preventing a middle-class tax hike. >> they have agreed that the wealthiest americans will pay more income tax. individuals earning more than $400,000 a year deep spending cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the beginning of march. the u.s. government will hit what is know
CBS
Jan 2, 2013 6:00pm EST
to the 112th congress, after a late night of final suspense on the fiscal cliff legislation. it gave the president much of what he wanted on taxes, and left republicans sharply divided. for president obama, the end-- for now-- of the washington budget drama, meant returning to hawaii today to resume his holiday vacation. but last night, before leaving, he welcomed house approval of the fiscal cliff bill. >> a central promise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working middle- class americans. tonight, we've done that. >> reporter: the final vote in the house was 257 to 167 on a bill the senate had already approved, it capped days of intense negotiations. the provisions will affect nearly all taxpayers. for individuals making at least $400,000 and couples making $450,000-- income tax rates will go up-- from the current 35% to more than 39%. for that same group, dividend and capital gains taxes will also rise to 20%, from 15%. and all income groups get hit by the expiration of a payroll tax break. it's increa
FOX News
Jan 2, 2013 6:00am PST
here we are 2nd of january. good morning, everybody. after months of wring lynn and rhetoric, congress late last night approving a deal to avert the dreaded fiscal cliff. >> on this vote the yeas are 257, the nays are 167 the motion is adopted without objection the motion to reconsider is laid on the table. bill: with that it was dun, it was dunn. you were probably watching college football but not before widespread tax hikes were baked into the deal. and those drastic budget cuts we talked about for a year, they were kicked down the road. there are many questions on the fine print. i'm bill hemmer. welcome here to "america's newsroom.". nice to see you back. martha: dun to your spelling. i'm arthel neville in more merit that mack today. democrats are hailing the deal as a victory. republicans are saying they were making the best of a bad situation. bill: the deal calls for more spending. not less spending in the end >> virt wallly no one believes what we have here tonight is a long-term solution. >> we set up for fiscal cliffs. >> we'll look back on this night and regret it. bill: dou
ABC
Jan 2, 2013 12:00pm EST
are concerned the new agreement will leave us worse off than before. >> a surge on wall street after congress finally reached a fiscal deal late tuesday night. on this thursday in trading of the new year, the dow jones jumped more than 200 points. >> this lot is just one step in the broader effort to strengthen our economy and broaden opportunities for everybody. >> the measure now headed to the president's desk and will prevent income tax increases and workers -- on workers earning less than $400,000 year-end extend unemployment benefits. but the bill does not include a speextending the social security tax cut. workers will now pay to% more in social security taxes. >> what we are really doing is raising taxes to give the president or money to spend. we think that's a bad idea. >> are members on the hill say that this was not a perfect or permanent fix but they're glad a deal is done. others say this is just the beginning of tackling the fiscal problems. a virginia congressman, jim moran, one of 16 democrats who did not vote for the bill. he says this year will see a dramatically shrinking g
CNBC
Jan 2, 2013 3:00pm EST
congress reached last night. of course, you also need to add about 4% more if you make above $250,000 thanks to the health care law. still that's viewed as a favorable outcome for those dividend dash paying stocks because the fear was -- >> 40%. >> it was going to go to 40%. eff cox says t note our own dividend-paying stocks may pose some of dangers investors are missing regardless of that friendly tax rate. even as ryan lorenza, our u.s. extis strategy for tds thinks dividend stocks will pay off. jeff, why are you concerned? >> let me talk about a couple of issues. the one you is guys talked about before. we are in the early innings of this whole fiscal cliff mess and the sequestration and what not. it's going to create a lot of volatility in the market. dividend stocks underperformed last year only with a 5% return. i think they will underperform this year. second point is that we saw in december a lot of special dividend issues happening. i think that was sort of a pull forward kind of demand, and they didn't even do that well when the special dividends were happening. finally
ABC
Jan 2, 2013 5:30pm EST
: and in the region. >> 66 days and counting. shame on you. shame on congress. >> reporter: lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, house speaker john boehner pulled the bill. it would not -- the reaction was swift and angry. >> the ayes have it. the house stands adjourned until 10 a.m. tomorrow morning. >> reporter: the senate passed a measure that with provide $60 million and many said the provides tag was too high. >> there raise been no substantive reason given for the action. >> reporter: the timing is key. if the house doesn't vote on the senate-passed measure, lawmakers have to start from scratch because the new members cannot take up a bill from the old congress. that means the much needed i'd could be delayed for several weeks. >> we need to rebuild now. we need to act now. we can't wait for the next congress. >> reporter: speaker boehner told republicans there will ab vote friday and the rest by january 15th. >> congressman peter king said the speaker of the house john boehner promised aid to victims will be
WETA
Jan 2, 2013 6:30pm EST
: just last night the president warned congress that he won't negotiate on the debt limit. >> the one thing that i think hopefully in the new year we can focus on, is putting a package like this together with a little bit less drama, a little less, and not scare the heck out of folks quite as much. >> reporter: but, with the sequester and other big spending issues like medicare on the table, striking a deal this year won't be easy. >> this is the best opportunity that we're going to have to save our nation and do those things that we have to put in play. >> reporter: but there's not much hope for a sweeping deal this year. >> my suspicion is that we will you know, kick the can down the road on whatever we do in february or march, and it may be for a year, it may be for two years, but we'll be coming back to deal with issues like this in the near-term. >> reporter: the investment market isn't putting much pressure on lawmakers to forge a long-term solution for the nation's fiscal troubles, and some fear that could mean a real fix is still very far away. >> the good news is that when we
ABC
Jan 2, 2013 7:00am EST
on march 1st. congress has adjourned. and late last night, after midnight, the president left for hawaii to meet with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing per feelings got raw at the last minute. >> reporter: it got really nasty. politico first reported on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, use uhhing language i can't use here on "good morning america." >> you can't even paraphrase. >>> let's look at what the deal means to you at home. lots of paycheck changes right now. and bianna golodryga is at the smart screen to break it down. about 99% of americans protected from an increase. but most workers will take a hit. >> payroll taxes going up. this affects everyone making $110,000 or less. so, this year, anyone making $110,000 will pay an extra $2,200 in taxes. people making $50,000 will pay an extra $1,000. and someone making $20,000 a year will pay more $400 a year. >> but the burden falling on the top 1%. >> your typical
FOX
Jan 2, 2013 9:00am EST
congress reaahes an agreement just hourssago... to over the fiscal cliff.but for & night... theehoose approved &pmeasure passed earliir n the day....by the ssnatt. it day.aises taxes on individuals &pearninggmore than 400-thoosan a year... and couples earning more than 450--housand dolllrs unemployment benefits. prrsideet obama praised lawmakers for reaccing an &pagreement that prottcts tte middle class. thanks to the votes of democrats and republicans in &pcoogress, i will sign aalaw that raises taxes on the cllssstax hike thht could have recession and obvvously had a severe impact on families all america.merica. middle claas amerrians will still take a financcal hit n po pay higher income taxes... they will have to pay at least 2-percent more in payroll taxes. thaa means most of the coontry's 160 illion workers will see smaller paychecks thiss the house of reppeeentatives wrapppd up this session wwthout considering the legislation.... authorizing assistance for uperstorm sandy victtms. the senate had alrrady passed the 60-poinn-four-billion dollar easure... but because new laa
ABC
Jan 2, 2013 6:00am EST
traffic. now over to you. >>> 6:02. and breaking news update. crisis averted at least for now. last night on the holiday for most of us, congress agreed on a deal to avoid the fiscal cliff. sherrie johnson is live this morning with what it can mean for you. there's a lot of stuff to work through with this. >> reporter: oh, you are absolutely right especially with the debt ceiling. we have more work but after months of drama and tense negotiations, congress passed legislation to avoid the fiscal cliff. lawmakers did not meet the deadline and they didn't get the grand bargain that both parties clap was the goal there. was concern among -- a lack of spending cuts. the deal would shield income tax cuts for all workers earning less than 400,000 dollars a year and households earning less than 450,000 dollars. it prevents a tax hike on a state's -- estates valued at less than 5 34eu8ion and extends unemployment benefits for about 2 million people that were set to expire. now what it does not do is raise the debt ceiling. in two months the government will reach the limit on borrowing unless congr
FOX
Jan 2, 2013 4:25am EST
by congress. what set off outrage among lawmakers last night. >>> topping this morning's news alert now, the house passed the fiscal cliff compromise late last night, clearing the way for president obama to sign it into law. it's being hailed as a victory for middle class families, but you will still see or still take a hit on your pay check this year. >> the social security tax cut is ending, so the payroll tax will return to 6.2%. for an average family making about $50s a year, that amount -- $50,000 a year, that elements to $1,000 less that you'll take home in 2013. one thing the house did not vote on last night was aid for superstorm sandy recovery. the decision leaving new york and new jersey lawmakers from both parties angered. the senate had approved a $60 billion in aid to help with the recovery. a house committee then designed a smaller $27 billion measure, but the current term of congress ended before a vote was held. the 113th congress will be sworn in today. no word on when a vote on the aid package will be held. >>> also making headlines this morning, good news on an oil d
WETA
Jan 2, 2013 6:00pm EST
was repeated across europe. this was the moment of truth late last night, the first and new year's day vote in congress since the korean war 60 years ago. a vote on a compromise agreement that neither party loves. >> virtually no 1 believes that what we have before us tonight is a long-term solution. >> it reminds me of the jokes were used to have, where someone stops hitting you in the head with a hammer and you're supposed to say thank you so much for the relief. >> in the end, house democrats were joined by enough republicans for the agreement to become law. as for the president to deliver on a campaign pledge, that the rich would pay more to help reduce the deficit. >> i will sign a law that raises taxes on the wealthiest 2% of americans wall preventing a middle-class tax hikett for -- while preventing a middle-class tax hike. >> they have agreed that the wealthiest americans will pay more income tax. individuals earning more than $400,000 a year deep spending cuts of more than $100 billion have been delayed for two months which means there will be another round of haggling at the begin
CSPAN
Jan 2, 2013 7:00am EST
% of the republicans who voted yes on a proposal last night are leaving congress. host: if you would like to join the conversation and talk with congressman blumenauer -- let's look at some of the details of the fiscal cliff legislation that passed the house and senate yesterday. do you agree with all those items? guest: all those items needed to be addressed, but look at the details. for example, the doc fix is lunacy. is something nobody wants to have. 27% reduction in medicare payments. but instead of addressing its trade on -- and it is something that we fix every year -- we are going to torment medicare providers for another year who are apprehensive. there is a permanent patch for the alternative minimum tax, but this is a attacks that needs to be fundamentally reformed or repeal -- a tax. the scoring mavens' decided it did not cost us anything to make the pact permanent, because we are going to do it every year. why should we not take this complex, unfair tax and eliminated altogether? it is part of these details that institutionalizes the arm wrestling and the horsetrading. over the cours
ABC
Jan 2, 2013 6:00pm EST
. shame on congress. >> lawmakers expected a vote on the sandy aid bill late last night after the fiscal cliff deal passed but in a surprise move, boehner pulled the bill. boehner assures lawmakers a vote on sandy aid will happen by january 15th. >>> stress, you know, it's a normal part of our lives but how you hand tell can have a real impact on your health. being constantly stressed out can aid you. in fact, it's the greatest ager of all. chronic stress can do serious damage to you. >> in the short term it increases cortisol and other hormone levels. in other cases it depletes them. it's the delesion, having the chronic stress is aging. it increases our risk for cancers. it increases our risk of inflammation. the plaque rupture which causes heart disease, stroke, memory also and increases our risk of accidents. >> there's no way to avoid stress but how you manage it make as big difference. deep breathing, medication and having a good circle of friends for support is helpful. >>> if dropping extra pounds tops your list of resolutions this year, there are ways to boost your metabolism wi
CBS
Jan 2, 2013 7:00am EST
. >>> the motion is adopted. without objection a motion to reconsider is laid on the table. >> congress passes a fiscal cliff compromise. >> the house late last night passed the senate bill that avoids the spends cuts and tax hike set to take effect later this year. >> we've set up more fiscal cliffs. we're going to look back on this night and regret it. >>> president obama urged them not to fight politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up. >>> wall street is ready to rally this morning after the late-night budget breakthrough in washington. >>> asian markets got a big boost over news of the agramt. >>> horng congress's hang seng gained nearly 3%. >>> sandy hook elementary students are about to head back to class three weeks after a shooting. classes return to a repurposed school. >>> an open house is set for today. >>> a shell oil rig has run aground off the coast of alaska. >>> no oil is leaking. all members have been evacuated. >>> they captured photos of justin bean
ABC
Jan 2, 2013 6:00am PST
night. as he tells us it leaves a lot to be desired. >> they finally got it done. congress ended the long drama over the fiscal cliff with house republicans rereluctant and thely passing the senate bill. >> i will sign the bill that raises taxes on wealthiest americans. >> for a time it appeared the bill was head forward defeat. >> i do not support the bill. >> house republicans did not want to raise taxes without significant cuts in government spending. >> there is no spending cuts. we're adding $4 billion a day to the debt. we feel like the senate bill failed. >> but republicans did not want to drag out the fight any longer and risk essentially taking the blame for massive tax hikes. >> what is the alternative? the alternative is $4 trillion of tax hikes to hit the american people. >> people earning less $400,000 shields them from tax increases and extends unemployment benefits. what it does not do is raise the debt ceiling. in two months the government will reach its limit on borrowing and not to mention the bill only delays large cuts to the pentagon and other government prog
CSPAN
Jan 1, 2013 8:00pm EST
-for. in the last night or the last two days of a congress to say that two months from now, a new congress is going to do what we are not doing here today is not something i would like to do. i want americans to have lower taxes, but the other day in conference, one of my colleagues pointed out that if, in fact, you're spending the money, you're taxing our future generation. we are taxing $1.2 trillion next year. we are taxing $1.2 trillion. we won't collect it, but taxing $1.2 trillion of deficit. the chairman of the committee of the ways and means committee, mr. camp, rightfully so said, we also aren't simplifying the tax code and not making it better or fairer and not getting rid of the nascar loophole or the electric motor scooter low-speed loophole and not getting rid of a lot of tax things that are here. we aren't taking things that the president said he would be for, like getting the calculation of changing the consumer price index for federal security work force and pensions, which would reduce the deficit. i cannot believe that this tax cut will, in fact, be followed with the spending cuts
KRON
Jan 2, 2013 6:00am PST
back up. >> congress has nearly avoided a fiscal cliff. the republican-led house of representatives agreed on a compromise late last night. if less than 24 hours after the deal was passed by the senate. if the final house vote was 257 to 167, with 85 republicans joining democrats. the vote capped off weeks of back and forth between chambers. president obama praised the compromise, saying that he does not want a repeat of the bickering in future negotiations. >> the bill case and come taxes the same for everyone except individuals making $400,000 a year or more. it also delays automatic spending cuts in defense and government programs for two months. it extends long term unemployment benefits that were set to expire. the measure head to president obama, who has promised to sign it. he left immediately after commending on of the house vote, to rejoin his family in hawaii. >> our coverage of this fiscal cliff agreement will continue throughout the morning. essex 30 a.m. we will carry opening bell alive, as a big rally is expected after the deal. then at 6:45 a.m. kron 4 financial exper
MSNBC
Jan 2, 2013 3:00pm PST
. the gop is falling apart. but we can't let that crack up hurt the country. joining me now is congress won january shakowski and mi mia malikah henderson. happy new year to both of you. >> congresswoman, how can democrats deal with the republican party that's in such disarray? >> well, i actually liked what happened last night. that is john boehner said he didn't need to follow the rule of having the majority of the majority party. but, actually, did let the house work its will. and a majority of democrats, all but 16, and 8 a rep5 republican able to move the country forward. i'm hoping that that will be a pattern and, actually, that will remain. now, whether or not the leadership is going to be able to stay as it is or there's going to be this internal battling. but, honestly, what we have among so many of the republicans and in the house of representatives and now, even pat thume in the senate, he wants to see the government shut down in the debt ceiling. when you've got crazy people like that, there is no hope of getting something done that's good for the country. >> but congresswoman,
ABC
Jan 2, 2013 1:05am PST
months of drama and last-minute negotiations congress finally passed legislation to avoid the fiscal cliff. after the vote, a rare late-night statement from president obama. >> this law is just one step in the broader effort to strengthen our economy and broaden the opportunity for everybody. >> lawmakers completely blew their deadline. they didn't get the grand bargain that both claim was parties claim was their ultimate goal. but tonight both democrats and republicans gave themselves credit forgetting something done.y, veryis a very, very strg first step. >> this is an important one. this is a critical one for the future of the country. >> there was considerable happened wringing about a lack of spending cuts. some wanted to add them in, but ultimately there weren't enough votes t passed. passed. the bill was overwhelming bipartisan support would extend tax cuts for all tax earners earning less than $400,000 a year and tax hikes on those estates worth $5 million. and benefits set to expire for some two million people. since congress missed the january 1st midnight deadline, technic
CBS
Jan 2, 2013 6:00am EST
the fiscal cliff bill and president obama is thanking congress for passing it. but when he spoke late last night, he said he hopes for less drama in the future. >> there's looft work still to be done -- lot of work still to be done. now the bill heads to the president for his signature. surae chinn is live on capitol hill with more on where we stand now. we have plenty left to do. good morning, surae. >> reporter: that's right. good morning to you, mike and andrea. it's not as big of a financial package as some lawmakers would have liked but a deal is a deal. in the end the house did end up approving the senate fiscal bill around 11:00 last night by a margin of 257-167 opposing votes. and some consider this a political victory for the president that comes one day after the fiscal cliff deadline. but the deal will work retroactively to extend the bush era tax rates for most americans. it is what he campaigned on to raise taxes on the wealthiest. the bill raises income taxes for individuals earning $400,000 a year and families earning $450,000. it includes an extension of unemployment benefi
CSPAN
Jan 2, 2013 10:00am EST
is helping those that have the most. republicans in congress brought this house to a new low last night. the banner other the speaker's chair says, in god we trust. god alone cannot help these people rebuild but the american people cannot trust the republican congress to help either. the only thing the republican leadership did is serve up false promises to the families, false guarantees, many know my cousin john moran was killed on 9/11. he came from the rockaway community. there was a monument on the beach, dozens of mononumets along the rockaway peninsula. they were destroyed by hurricane sandy. it didn't stop my family and his neighbors to go out and sift through the feet of sand to find that memorial with that -- it was that precious they didn't wait for the federal government to come help pull them up by their boot strap they did it themselves, they continue to do it. they're humble people, proud people throughout the entire region affected by this. they will recover but sadly to say, no thanks to the 112th congress. the speaker pro tempore: the gentleman's time has expired. the c
CSPAN
Jan 2, 2013 1:00pm EST
in congress brought this house to a new low last night. the banner on the speaker's chair says, in god we trust. god alone cannot help these families rebuild but unfortunately the american people cannot trust the republican congress to help either. the only thing my republican colleagues did this week was to serve up false hope to the people who have been devastated by this storm. false promises, false guarantees that would be there to help them in their time of need. many of you know that my cousin john moran, i don't speak about john often, was killed on 9/11. he came from the rockaway community. there was a monument on the beach, on beach 118th street, there were i would say dozens of monuments, as congressman meeks knows, along the rockaway peninsula. they were destroyed by hurricane sandy. it didn't stop my family and his neighbors to go out and sift through the feets of sand to find that memorial, it was that precious to them. they didn't wait for the federal government to come help pull them up by their boot straps. they did it themselves. they continue to do it. they're humble peo
Current
Jan 2, 2013 3:00pm PST
'm the ultimate shrimp lover, and i sea food differently. ♪ today is the last day of the 112th congress, and not a moment too soon. get this before adjourning last night, the gop-controlled house refused to bring up a $60.4 billion relief package to aid victims of hurricane sandy, and many politicians, even republicans are crying foul. >> for the continued suffering of these innocent victims. the house majority and their speaker, john boehner. we respond to innocent victims of natural disasters, not as republicans or democrats, but as americans, or at least we did until last night. >> jennifer: now criticism like that has prompted speaker boehner to change his tune. he now says that congress will take up that storm-relief package this week. coming us tonight from washington to talk about why congress did fail to act is andrew krol, a reporter with "mother jones." andy welcome back. happy new year. >> happy new year to you too. >> jennifer: stenny holder says that eric cantor told him that he was 99.9% sure that a sandy package would in fact make it to the floor. and
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